Janus Henderson Group PLC Cuts Stake in CBIZ, Inc. $CBZ

Janus Henderson Group PLC decreased its position in CBIZ, Inc. (NYSE:CBZ) by 97.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,663 shares of the business services provider’s stock after selling 889,050 shares during the quarter. Janus Henderson Group PLC’s holdings in CBIZ were worth $582,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CBZ. EverSource Wealth Advisors LLC grew its holdings in CBIZ by 667.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,512 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 1,315 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of CBIZ by 36.2% during the first quarter. California State Teachers Retirement System now owns 63,110 shares of the business services provider’s stock valued at $1,695,000 after acquiring an additional 16,785 shares in the last quarter. Quantinno Capital Management LP increased its holdings in CBIZ by 543.8% during the 1st quarter. Quantinno Capital Management LP now owns 175,005 shares of the business services provider’s stock worth $4,699,000 after purchasing an additional 147,820 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of CBIZ in the 1st quarter valued at approximately $276,000. Finally, First Trust Advisors LP raised its holdings in CBIZ by 236.2% in the first quarter. First Trust Advisors LP now owns 62,286 shares of the business services provider’s stock valued at $1,672,000 after acquiring an additional 43,758 shares in the last quarter. 87.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CBZ has been the subject of several research analyst reports. Stephens set a $37.00 price objective on CBIZ in a report on Friday, May 1st. CJS Securities lowered shares of CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 price target for the company. in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $42.00 target price on shares of CBIZ in a report on Thursday, April 30th. US Capital Advisors set a $55.00 target price on CBIZ in a report on Thursday, July 30th. Finally, Weiss Ratings raised CBIZ from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $44.50.

CBIZ Price Performance

Shares of NYSE:CBZ opened at $54.46 on Tuesday. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 1.14 and a beta of 0.92. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.47. CBIZ, Inc. has a 12 month low of $24.29 and a 12 month high of $67.24. The stock’s 50 day moving average price is $39.39 and its 200 day moving average price is $33.75.

CBIZ (NYSE:CBZ) last issued its quarterly earnings results on Wednesday, July 29th. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.19. CBIZ had a return on equity of 12.33% and a net margin of 4.73%.The firm had revenue of $682.21 million during the quarter, compared to analyst estimates of $697.96 million. During the same period last year, the company posted $0.95 EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis. Equities research analysts anticipate that CBIZ, Inc. will post 4.1 earnings per share for the current fiscal year.

About CBIZ

CBIZ, Inc (NYSE: CBZ), founded in 1996 and headquartered in Cleveland, Ohio, is a leading provider of professional business services in the United States. Since its inception, the company has grown through both organic expansion and strategic acquisitions to deliver a broad spectrum of financial, tax and advisory solutions tailored to the needs of small to mid-market organizations.

Through its Financial & Advisory Services segment, CBIZ offers accounting, tax preparation and compliance, audit support, and wealth management services.